MANILA (Dow Jones)--Thai physical rice prices were little changed in the week
to Monday amid thin trade, with the Philippines expected to seek 500,000 metric
tons of the grain in a tender Tuesday, exporters said.

  The Philippine National Food Authority plans to buy the 25% broken variety
for shipment between February and April.

  "Thai suppliers may end up supplying a limited quantity because Vietnam
prices are more attractive," one exporter said.

  Thai suppliers had earlier anticipated that they might have a bigger chance
of supplying bigger quantities of rice to Asian buyers like the Philippines
because Vietnam imposed a ban on grain exports late last year.

  Thai suppliers, however, have been unable to take advantage of Vietnam's
absence from the market, as a strong baht have worked to support prices at high
levels.

  Vietnam, which is Thailand's main competitor in rice export trade, is likely
to lift the ban on exports next month.

  Even Iran, expected to return to the Thai market this month, has been absent
so far this year, exporters said.

  Iran, which signed a deal with Thai exporters in December for the supply of
200,000 tons of rice, was expected to buy more rice this month.

  Iran was thought to be interested in buying a total of 500,000 tons for
prompt shipment, exporters said.

  On Monday, Thai 100% grade B was offered at $320-$322/ton, FOB, Bangkok, 5%
broken was quoted at $316-$318/ton, while parboiled 100% sortexed was offered
at $323-$325/ton. These prices were unchanged from prices offered a week
earlier.

  Despite the thin trade, prices are likely to remain at high levels until
around the end of February when the bulk of the country's main crop harvest
arrives in the market, exporters added.